Delivery Hero remains confident of persuading the Korea Fair Trade Commission (KFTC) to approve its acquisition of Woowa Brothers without selling its food delivery player Yogiyo, reported the Korea Times.
The antitrust watchdog recently sent an examiner’s report to Delivery Hero’s headquarters in Germany, requesting the divestment of Yogiyo as a condition of its approval of the Woowa Brothers takeover. However, the German firm made it clear it will not comply.
“We do not agree with the KFTC’s recommendation to sell off our food delivery player and we will object during the antitrust watchdog’s commissioners’ meeting on Dec. 9,” a Delivery Hero official said. “We are confident that we can persuade the commissioners to approve our acquisition of Woowa Brothers.”
Delivery Hero will emphasize three points in its bid to convince the KFTC. First, it believes preventing the combination of the two firms will limit customers’ opportunities to enjoy better services.
“When we merge with Woowa Brothers, we will provide unprecedented service to all restaurant owners, deliverymen and our customers, which will benefit local communities,” the official said.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.